‘We wouldn’t do it again’, Labour-voting landlords claim

12 December 2024

Most landlords who voted Labour wouldn’t do it again, a new survey from buy-to-lender Landbay has found.

The landlord survey revealed that 80% of those who voted Labour wouldn’t vote the same way again if they had known that the Chancellor would increase Stamp Duty on second homes and investment properties. Nineteen per cent of landlords reported that they had voted Labour, a 7% rise on the 12% who said they had intended to vote Labour in our last survey in the spring.

Sixty three per cent of all landlords said they were unimpressed with the Government’s housing market policies so far.

A landlord told Landbay: “Where is the incentive to invest? Who will take up the displaced tenants when private landlords, most of whom only have two or three properties, dispose of their properties?”

One landlord commented: “I shan't stop buying properties, but how and what kind remains to be seen.”

Another said: “It feels like typical landlord bashing from a Labour Government.”

The survey has demonstrated that what seems to be affecting landlord confidence most is a feeling that landlords are being tarred with the same brush as ‘rogue landlords’.

Rob Stanton, sales and distribution director at Landbay, said: “Good landlords far outweigh the bad and the rental market is remarkably robust and thriving. Demand continues to outstrip supply with many tenants ready and willing to rent across the country. As long as house prices are high, affordability will remain a real challenge for residential buyers.

“At Landbay, we are finding that, while some disaffected landlords are sitting on their hands, others are exploring investment opportunities across the country. There is always a place for decent, sensibly priced rental properties.

“What the buy-to-let sector really needs now is a confidence boost. With encouragement and support, the sector can continue to play an important role in helping solve the housing crisis. As a buy-to-let lender we remain committed to doing our bit to help, innovating to meet the needs of landlords.”

Last month, Landbay announced rate reductions across its fixed rate product range, with rates falling by as much as 0.20%.